Included in Rio Tinto’s annual Mineral Resources and Ore Reserves tables, released to the market today as part of its 2016 annual report, are increases in Mineral Resources for Rio Tinto’s 100%-owned Jadar Lithium and Borates Mineral Project in Jadar, Serbia.
The updated mineral resources are reported in accordance with the Australasian Code for Reporting of Exploration Results, Mineral Resources and Ore Reserves, 2012 (JORC Code) and the ASX Listing Rules. As such, the reported increases relating to the Jadar project requires the additional supporting information set out in this release and its appendix.
Rio Tinto’s ore reserves and mineral resources are set out in full in its 2016 annual report.
During 2016, Jadar mineral resources have increased by 19Mt from 117Mt to 136Mt, a 16 per cent increase, including the first release of indicated category mineral resources.
The updated Mineral Resource estimate comprises:
- Indicated Resource: 52.4 Mt @ 1.79% Li2O, 19.2% B2O3
- Inferred Resource: 83.3 Mt @ 1.90% Li2O, 13.0% B2O3
- Total Mineral Resource: 135.7 Mt @ 1.86% Li2O, 15.4% B2O3
Equivalent borate product resources are 21Mt of B2O3.
The upgrades have resulted from continuing orebody knowledge programmes undertaken at Jadar by Rio Tinto. This increase in orebody knowledge has been obtained from the following work programmes which represent components of the pre-feasibility study currently underway:
- 3D seismic data processing and interpretation
- Consolidating and analysing a large volume of new geology data sets from previous drilling campaigns
- Reinterpreting and standardising all Jadar structural and geology models, allowed by the expanded range of available data sets
- Improved understanding of the lithostratigraphy and controls on mineralisation
- Adopting new mineral resource estimation methods